السلام عليكم ورحمة الله وبركاته
*ما شاء الله أختي الكريمة** **إيمان البيج...رفعك الله إلى فردوسه بمنه ورحمته وفضله* لك مشاركات مميزة ونافعة جدا وفقك الله أينما تحلين، لا تحرمينا رسائلك القيمة Dear Sister: We cannot thank you enough. You have made our groups (Kantakji & Nidal) of great value. Your topics are uniquely distinguished. May Allah shower you with his blessing and mercy. *ما شاء الله أختي** **سلمى...أصلح الله بالك* ذوق رفيع ومشاركات جديدة بانتظار قائمة الجزائر *طبعا لا غنى لنا عن** **مداخلات المجاهد الأستاذ الدكتور سامر قنطقجي سلمه الله...صاحب الأعمال العظيمة التي** **لا تنقطع بإذن الله* أسأل الله أن ينفعنا بالأعضاء الصامتين وأصحاب المشاركات المحدودة...عسى أن يخرجوا لنا من كنوزهم الفريدة Thanks to ALL of you; I cannot wait to receive your daily messages;; Allah Blesses Kantakji & Nidal group for their unlimited efforts;; Your sister; Nesreen On 12/12/09, Iman Al-bage <[email protected]> wrote: > > بسم الله الرحمن الرحيم > > > > > Islamic Finance: Theory & Practice > > Tariqullah > Khan<http://sites.google.com/site/sukkook/tk-cv09-0809.pdf?attredirects=0> > "Risk sharing in Islamic finance - an analysis of issues with special > reference to Pakistan", a Doctoral Thesis submitted in fulfilment of the > requirements for the award of Ph.D. by the Department of Economics, > Loughborough > University <http://www.lboro.ac.uk/>, United Kingdom, September - 1996, > Supervisor: John R. > Presley<http://scholar.google.com/scholar?q=presley+islamic&hl=en&btnG=Search> > > > CONTENTS > Chapter 1 - > Introduction<http://sites.google.com/site/sukkook/Chapter1.pdf?attredirects=0> > Chapter > 2 - Islamic Finance in Theory: Evolution and Economics of Profit > Sharing<http://sites.google.com/site/sukkook/Chapter2.pdf?attredirects=0> > Chapter > 3 - Islamic Finance in Theory: Evolution and Economics of > Mark-Up<http://sites.google.com/site/sukkook/chapter3.pdf?attredirects=0> > Chapter > 4 - Islamic Finance in Practice: Relative Significance of Profit-Loss > Sharing and Mark-Up in Islamic > Banking<http://sites.google.com/site/sukkook/chapter4.pdf?attredirects=0> > Chapter > 5 - Islamic Finance in Practice: Market Performance of Profit-Loss-Sharing > with Special Reference to the Pakistani Modaraba > Companies<http://sites.google.com/site/sukkook/chapter5.pdf?attredirects=0> > Chapter > 6 - Profit-Loss Sharing in Retrospect: Firm Level > Considerations<http://sites.google.com/site/sukkook/chapter6.pdf?attredirects=0> > Chapter > 7 - Profit-Loss Sharing in Retrospect: Open Economy Considerations with > Special Reference to > Pakistan<http://sites.google.com/site/sukkook/chapter7.pdf?attredirects=0> > Chapter > 8 - Towards A Contractual Model of > Profit-Loss-Sharing<http://sites.google.com/site/sukkook/chapter8.pdf?attredirects=0> > Chapter > 9 - Conclusions and > Implications<http://sites.google.com/site/sukkook/Chapter9.pdf?attredirects=0> > Bibliography<http://sites.google.com/site/sukkook/Bibliography.pdf?attredirects=0> > > CONTENTS IN > DETAIL<http://sites.google.com/site/sukkook/Contents.htm?attredirects=0> > > ABSTRACT > > The Islamic law prohibits charging and paying of interest but allows > earning profits on the basis of participation in the market. This legal > injunction has motivated the establishment and successful operation of a > number of Islamic financial institutions. The emergence and rise of these > institutions is an important academic and practical development of our time. > The theory of Islamic finance evolved on the basis of profit and loss > sharing (PLS) principle underlying participatory Islamic financial > contracts. However, the practice of Islamic finance does not conform to the > theory and overwhelmingly relies on the mark-up principle which underlies > deferred trade. The PLS is in striking contrast to the interest mechanism, > but the mark-up is not. > > The present research inquires the causes underlying the negligence of the > mark-up mechanism at the time when the theory was developing. Looking at the > preferences of users and suppliers of funds, the causes of the overwhelming > use of mark-up in the practices of Islamic finance are also analyzed. > Pakistan has remained at the forefront of financial Islamization. The > research also draws on this practical experience with a view to explore how > the market rewards risk. The study also analyzes the prospects of financial > Islamization in a real world scenario in which most Muslim countries rely > substantially on foreign financial resources. > > The central conclusion of the study is that the mark-up and PLS mechanisms > have their own merits and weaknesses. The merit of the mark-up is that it > facilitates the acquisition of assets. The merit of the PLS is that it links > financiers’ interests with the outcome of projects. The study concentrates > on the analysis of the inherent characteristics of the PLS and mark-up as > parent principles of Islamic finance rather than the institutional > environment in which these are practiced. It implies that given the market > environment, the strength of Islamic finance lies in the integration of the > prime merits of mark-up and PLS and in developing a comprehensive set of > Islamic financial instruments. > > > ACKNOWLEDGEMENTS > > I have undertaken this research while working at the Islamic Research and > Training Institute, the Islamic Development Bank. Without an opportunity to > work at these institutions I will not have been able to complete the work. > My foremost gratitude goes to my institutions for providing me the > opportunity to work as a researcher. Among many people who have contributed > to the progress of this research in different ways, the following deserve > special mentioning: John R. Presley, my research supervisor, whose > initiative, encouragement and guidance made it possible for me to present my > work in the present form, my colleagues Monzer Kahf and Boulem Ben Djilali > with whom I worked on beneficial joint papers, M. Fahim Khan, who motivated > me to register for a research degree and encouraged me in pursuing it, M. > Nejjatullah Siddiqi who helped me in focusing on the issues pursued in this > research, Nevzat Yalcintas, Korkut Ozal, Munawar Iqbal, Hasmet Basar, Sami > Homoud, Ausaf Ahmad, Abdallah Gul, Hussain Kamel Fahmi, M. A. Zarqa, M. Ali > Al Qari, Leyachi Feddad, Mahmoud Gulaid, and Osman Babikir from whose > comments and observations I benefited. To all these wonderful friends, I owe > my sincere gratitude. Views, interpretations, and omissions and errors are > my sole responsibility. > > Tariqullah Khan > LIST OF KEY TERMS > > Islamic Finance; Islamic Banking; Islamic Financial Institutions; Islamic > Financial Instruments; Islamic Financial Markets; Profit and Loss Sharing > (PLS); Financial Murabahah (Mark-up); Financial Islamization; Islamic > Principles of Finance; Islamic Corporate Finance > > > > > > > http://sites.google.com/site/sukkook/ > > والحمد لله الذي بنعمته تتم الصالحات > Wa Al’hamdulil’laahi Allathee bini'amatihi tatimmu As-salihaat > praise is to be to Allah Who by His blessings all good things are perfected > > > > Thank You; > > Iman Sameer Al-Bage, MA (Pending) in Islamic Economics > Da’awa University Institute for Islamic Studies > Website: http://kantakji.com/elearn_center/islamic.htm > Email: [email protected] > > > > > -- > You received this message because you are subscribed to the Google Groups > "Kantakji Group" group. > To post to this group, send email to [email protected] > To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي > رسالة فارغة, send email to > [email protected]<kantakjigroup%[email protected]> > For more options, visit this group at > http://groups.google.com/group/kantakjigroup?hl=en > سياسة النشر في المجموعة: > - ترك ما عارض أهل السنة والجماعة. > - الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط. > ويستثنى من هذا مايتعلق بالشأن > العام على مستوى الأمة كحدث غزة مثلا. > - عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه. باستثناء الأمر العام الذي > يهم عامة المسلمين. > - تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من > أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي. > - ترك المديح الشخصي. -- You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to [email protected] To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: - ترك ما عارض أهل السنة والجماعة. - الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط. ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة كحدث غزة مثلا. - عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه. باستثناء الأمر العام الذي يهم عامة المسلمين. - تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي. - ترك المديح الشخصي.
